Spain’s Golden Visa Program is a residency permit available to non-EU citizens who invest in Spain through either purchasing real estate or investing in an existing company that creates employment opportunities for Spanish citizens.
There are two types of visa options available; Acquisition of Real Estate residency visa (RIV) if you invest a minimum of 500,000 Euros into real estate, or Capital Investors residency visa (RIC) if you invest 1 million Euros into shares of a Spanish company and a business which creates employment. You can also choose to issue a bank deposit of 1 million Euros into a Spanish bank.
You can start the golden visa application process from the Spanish embassy in the country you reside in after making the investment. Besides the investment other application requirements are that you are over the age of 18, have the financial means to support yourself and family, have a clear criminal history and have no previously rejected Schengen Visa. Once you arrive in Spain, you can exchange the initial Spanish visa for a Residence Permit with the required documentation.
Documentation to submit includes, application form, photos, passport, Spanish health insurance, residence proof, investment proof, a clear medical certificate, proof of sufficient financial funds and police clearance.
Your Spanish Golden Visa is valid for 1 year and your renewable Residence Permit is valid for 2 years as long as you are maintaining the initial investment. As a Spanish resident, you are entitled to obtain Permanent Residency after 5 years.